Mauritius

New Documents

Mauritius FIU Amends Al-Qaida, Islamic State Sanctions List

The Financial Intelligence Unit of Mauritius issued a notice regarding changes to the sanctions list with respect to al-Qaida and the Islamic State of Iraq and the Levant.

May 12, 2021

Mauritius FIU Adds One Entry to Yemen Sanctions List

The Financial Intelligence Unit of Mauritius issued a notice announcing changes to the sanctions list with respect to Yemen.

April 6, 2021

Philippines Regulator, Bank of Mauritius Sign MoU on Regulatory Cooperation

March 23, 2021

Mauritius National Risk Assessment Highlights AML/CTF Gaps

February 4, 2021

Mauritius FIU Updates Iraq Sanctions List

February 2, 2021

News

Midweek Roundup: Western Union Ends Cuban Remittances, Airbnb Faces US Sanctions Fine, and More

Prevezon Holdings suspected of handling larger volume of illicit funds, Crown Resorts loses license, and more, in the midweek roundup.

November 18, 2020

Midweek Roundup: Credit Suisse Accuses Employee of Forging Records, Crown Resorts Staff Helped Clients Evade AML Program, and More

U.S. officials blacklist members of International Criminal Court, U.K. casino’s former compliance officer wins lawsuit, and more.

September 2, 2020

Midweek Roundup: EBA to Probe Lapses in Supervision of Dos Santos’ Affairs, Global Banks Review Hong Kong Clients’ Political Ties, and More

July 22, 2020

Midweek Roundup: New York Penalizes Deutsche Bank, FinCEN Releases COVID-19 Guidance, and More

July 8, 2020

Midweek Roundup: Former ICBC Staff in Spain Settles Money Laundering Charges, Swiss Investigate UBS, and More

June 17, 2020

Enforcement Actions

0 Items Found

Key Documents

Mauritius Publishes Updated AML Legislation

December 15, 2011

Mauritius Enacts Amendments to Law Criminalizing Terrorism

August 21, 2007

Mauritius Implements International Convention on Suppression of Terrorism Financing

September 16, 2003

Mauritius Releases Updated Act on Prevention of Corruption

August 21, 2007

Mauritius Issues Amended AML Regulations

September 15, 2006

Mauritius Updates Law to Assist Foreign States in Criminal Matters

July 30, 2009

Mauritius Establishes Financial Services Commission for Non-Bank Regulation

August 21, 2007

Important Facts

  • The U.S. State Department identifies Mauritius as a monitored jurisdiction. Laundered funds are primarily derived from the proceeds of drug trafficking, mainly heroin and subutex, a prescription drug that is illegal in Mauritius. Other important predicate money laundering offenses include theft, conspiracy, forgery, swindling, Ponzi schemes and corruption. Drug trafficking organizations and organized criminal groups do not control criminal proceeds laundered in Mauritius. According to recent investigations, money laundering occurs in the banking system, the offshore financial center and the non-bank financial system. Criminal proceeds are derived from both domestic and foreign criminal activities. Mauritius prohibits shell companies, bearer shares and nominee or anonymous directors or trustees. At the end of 2015, there were 231 operators in the Mauritius free-trade zone.
  • KYC Covered Entities:  Banks, insurance companies, securities dealers, money changers, foreign exchange dealers, accountants, lawyers, notaries, chartered secretaries, gaming centers, jewelry dealers, property developers and promoters, and estate agents
  • STR Covered Entities:  Banks, insurance companies, securities dealers, money changers, foreign exchange dealers, accountants, lawyers, notaries, chartered secretaries, gaming centers, jewelry dealers, property developers and promoters, and estate agents
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 19 (Jan. 1 – Nov. 12, 2015); Convictions: 9 (Jan. 1 – Nov. 12, 2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 25 High : 0
Largely Compliant : 11 Substantial : 0
Partially Compliant : 3 Moderate : 2
Non-Compliant : 1 Low : 9

Mauritius' technical compliance was re-rated in a Jan. 22, 2021 follow-up report

BASEL i

Rank : 59/141
Score : 5.33/10

TRANSPARENCY INTERNATIONAL i

Rank : 56/180
Score : 52/100

Tax Justice Network i

Rank : 51/133
Score : 72/100